Equity Indexes Testing Resistance

On Wednesday, July 27, 2022, the FOMC raised the Fed Funds rate for the fourth time this year. The next day, the Bureau of Economic Analysis  (BEA) announced that the 2022 Second Quarter GDP declined by 0.9%. Finally, to close out the week, the BEA reported that the Core PCE rose by 4.8% from a…

Morning Notes – Tuesday, August 2, 2022

Directional Bias For The Day: S&P Futures are lower at 9:00 AM; trending down since 10:30 AM on Monday The first nine days of August are historically weak (Stock Trader’s Almanac) The odds are for a down day with elevated volatility – watch for a break above 4106.50 and above 4122.25 for a change of…